In Re: The Estate of Lonzo Kelley

Lonzo Kelley operated a grocery store and borrowed a total of $250,000 from Heritage Bank ("Defendant") to operate the store. After Mr. Kelley died and there was no person or entity willing to assume control of the store, Defendant assumed operation of the store with the stated intent of protecting the assets, some of which were perishable. Defendant also believed the store would be more valuable at the time of foreclosure if it continued to remain open up until the time of sale. Defendant purchased new inventory and continued to operate the store until foreclosure took place. After foreclosure, and after deducting all expenses, etc., approximately $3,874.88 remained, which Defendant kept on deposit. Several years later, The Estate of Lonzo H. Kelley ("Plaintiff") filed suit making numerous challenges to Defendant's accounting practices, the manner in which Defendant operated the store, as well as its legal right to assume control of the store. Both parties filed motions for summary judgment. The Trial Court granted judgment to Plaintiff in the amount of $9,132.09, but determined Defendant was within its rights to assume control of the store and had not engaged in any wrongful acts while operating the store. Plaintiff appeals. We affirm.